"Lucid sold 10,241 cars last year - not bad at all - when compared to Taycan" - article

[Tooney]

Lucid, the American manufacturer behind the Air luxury saloon, has announced production and sales figures. In the full year 2024, 9,029 vehicles were produced and 10,241 vehicles delivered.

In the previous year, 8,428 cars were produced and 6,001 delivered. This means that the number of sales grew by 71 per cent for the year as a whole. Although production increased only slightly, it exceeded the company's target of 9,000 vehicles.
. . .
The bottom line
My goodness, barely more than 10,000 Lucid Air were sold worldwide last year. That sounds pretty meagre, but you have to bear in mind that this is a luxury class vehicle with an electric drive and that the market situation for this segment is poor. Around 41,000 units of the similarly priced but much better-known Porsche Taycan were delivered worldwide in 2023, but this year only around 14,000 vehicles had been delivered by September, so that the figure for the year as a whole is perhaps 19,000 units. In comparison, the Lucid Air figures aren't too bad, we think.
https://uk.motor1.com/news/746407/lucid-car-sales-figures-2024/

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[Mr.Smith]

It's all dirt cheap leases. It's just kicking the can down the road for catastrophic residual value guarantees that will be an accounting nightmare.
These are leases with up to 80% RV, very low money factor. 2025 Taycan Turbo is 59% with an 8.4% APR

When I was looking in 2024, Lucid still had early 2023 cars sitting in inventory for over a year.

Porsche is extremely conservative with leases. High money factor and more importantly, horrible, low residuals so they don't get stuck with huge losses down the road.

 

[Flying ace]

Also note the 2024 Porsche numbers are skewed due to the eve of the j1.2 launch. I got the sense all pre-ordered Taycans were filled by summer 2023. I know this bc my 23 GTS sat in the showroom between June 2023 to April 2024.

It'll be interesting to see how EV sales look altogether in 2025. We're well past the stage of "everyone who wanted an EV has one". It'll be the overall value proposition of an EV that will sell EVs. I have my own value calculator and based on a 30 mpg comparable vehicle and $5 gas locally, I'm well in the savings driving EV, but in areas of $3 gas, it's only break even.

Porsche is already rolling out Macan EV lease incentives, and I still have only seen 2 Macans on the street (and I live in California!).

Also Tesla numbers will continue to be skewed and not an indicator of the general market. They have the oldest car in the market (S), and are still half a year from 3 and Y refresh. Ultimately the consumer will punish Tesla for having product portfolios from 2013 and 2016.

 

[Mr.Smith]

Also note the 2024 Porsche numbers are skewed due to the eve of the j1.2 launch. I got the sense all pre-ordered Taycans were filled by summer 2023. I know this bc my 23 GTS sat in the showroom between June 2023 to April 2024.

It'll be interesting to see how EV sales look altogether in 2025. We're well past the stage of "everyone who wanted an EV has one". It'll be the overall value proposition of an EV that will sell EVs. I have my own value calculator and based on a 30 mpg comparable vehicle and $5 gas locally, I'm well in the savings driving EV, but in areas of $3 gas, it's only break even.

Porsche is already rolling out Macan EV lease incentives, and I still have only seen 2 Macans on the street (and I live in California!).

Also Tesla numbers will continue to be skewed and not an indicator of the general market. They have the oldest car in the market (S), and are still half a year from 3 and Y refresh. Ultimately the consumer will punish Tesla for having product portfolios from 2013 and 2016.

Good points.

Tesla Model 3 refresh has been out and already discounted, with incentives (low interest rates in the US, 0% in China).
Y refresh is coming in the next quarter that will maintain their volume at best (0% rates in China currently)
Teslas main business is the local Chinese market, the only market that didn't lose sales.
They can't come up with a new model because R&D and tooling will make them show loses.
So their business has pivoted to pure vaporware like robots.

Lucid seems to be part of the Saudi Neom program so it will survive just so it can be shown as part of the green Saudi revolution.

PS the Gravity is very appealing

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